India a land of billion opportunities: Mukesh

The Chairman and Managing Director of Reliance Industries, Mukesh Ambani, on Sunday called India a land of billion opportunities, and not problems. Addressing the World Economic Forum (WEF) in Mumbai, Ambani said there is an urgent need for better governance.

Lauding private sector's efforts, he said, "Private sector is taking significant role with bottoms up entrepreneurship".

While commenting on the economic situation of the country, Ambani said there is a speed mismatch between the government and the private sector to achieve goals. "Indian government needs to work at a faster pace," he told the forum.

He noted that the new trend of India Inc is creating value for society, not only for shareholders.

To a question on what keeps India Inc awake at night, Ambani said, "The enormous opportunities you see in front of you do not let you sleep at night."

Speaking on the emerging trends, Ambani said Indian business was on its way to transition to create innovation in business models and technology. He pointed out the development of skills - particularly leadership - as the second biggest trend. He said there was a misconception that responsible jobs can only be done by 60-year olds. "Now 40-years olds can perform better than us," he added.